Beyond to cut workforce by 20%, terminates Chief Product Officer

In a regulatory filing, Beyond (BYON) announced that on October 20, the board of directors of the company approved a RIF affecting approximately 20% of the company’s workforce, which is expected to be substantially implemented in the fourth quarter of 2024. These actions were taken to strategically create a more variable, leverageable cost structure and create a more streamlined organization to align to its asset-light business that supports an affinity and data monetization model with a strong technology focus. The company estimates the RIF will result in annualized reduction of fixed costs by approximately $20M. In connection with a reduction in force, Carlisha Robinson, former Chief Product Officer of Beyond, was terminated without cause effective October 22.